Web Bytes - 594

Posted: 25 August 2016

Rode-Reim 2016 Property Conference
Rode - South Africa
This year's Rode-Reim 2016 Property Conference to be held in Cape Town and Johannesburg at the end of September has as its topic "Glocalisation" - The practice of conducting business according to both local and global considerations.Rode

Just Property gives its clients homeownership toolsHomeTimes - South Africa
With 30 interested tenants per listed property, the rental game can prove as difficult for agents as it is admin intensive. And as any rental specialist will tell you, the secret to a successful rental division is personalised service and good relationships.

So why then is Just Property, which rebranded a month or so ago, encouraging its tenants to get themselves bond fit, equipping them with educational tools and services to do just this, and potentially losing them forever to homeownership?

It all started in February this year when Paul Stevens, CEO of Just Property, read a story about My Bond Fitness – the brainchild of attorney Meyer de Waal – which aims to assist consumers in their desire of fulfilling their homeownership aspirations. Whether consumers are battling bad credit scores, needing help with their budgets to get themselves bond fit, or if they simply need advice on how to raise their required deposit amounts, MBF aims to bridge the gap between renting and homeownership.HomeTimes

Liability for levies when units are soldPropell - South Africa
When a sectional title unit is sold, the pro rata ordinary or general levies for the period remaining of the current financial year automatically becomes the responsibility of the new owner, according to the Sectional Titles Act.

What happens, however, if there is a special levy due?

There is no provision in the Act that caters for the change of ownership during a period of special levy raising and payment, and this lack of provision sometimes makes a situation such as this complicated, says Mandi Hanekom, operations manager of sectional title finance company Propell.

The Act simply says that the person who is the registered owner of a unit on the date that the trustees raise a special levy is liable to pay it. There could be complications though when special levies are paid off over a period of time in instalments and during this time a unit (or units) changes hands.Liability for levies

The right tenant mix for your commercial propertyRawson - South Africa
Commercial properties can host a variety of different tenants. What makes the property successful for both landlord and tenant will be whether the tenant mix works for everyone. “A question often asked by investors when renting out premises,” says Leon Breytenbach, National Manager of the Rawson Property Group’s commercial division, “is, ‘What is the ideal mix of tenants for my commercial property?’” National tenants, comprising large companies found nationwide, are considered ideal tenants because they are household names, e.g. Pick ‘n Pay, Shoprite, Mr. Price, etc., but they carry a cost. Due to their wide customer-base, attracting large numbers of consumers, national tenants often demand a lower rental. Similarly, office based tenants which are strong, secure and reputable, will expect a similar reduction.

When a national tenant demands a lower rental, this reduces the return on the property. “There is a trade-off, however,” says Breytenbach, “as you gain greater confidence and stability in your tenant base and therefore, in your income. When a national tenant occupies a commercial property,other tenants in the same property will pay a higher rental as a means of offsetting the lower rental offered to the national tenant.” In Claremont, for example, current rental rates for a commercial property are about R180 per square metre for stand-alone premises, but near a national tenant the cost may rise to R220 or R250 per square metre, while in exceptional cases rent has been known to go as high as R500 per square metre.Rawson

Leave a comment:

Word shown in picture:

Submitting your comments...

Your comment has been submitted for approval.

Latest Articles

All you need to know

Join George Findlay, for a FREE WEBINAR as he discusses how electronic signatures have evolved from a convenient extra to a simple and effective compliance necessity for everyone in a COVID-19 reality.

Practitioner's Guide - 2020

The Practitioner's Guide to Conveyancing and Notarial Practice by Allen West has just been published in its second edition and is available as an eBook and in an Online format in addition to the print version.